Yonkers Film Studio Portfolio Secures $435M Refinancing

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Summary · why it matters

A joint venture of National Resources, Great Point Studios, and Lindsay Goldberg has refinanced its 719,943-square-foot Yonkers film studio portfolio, known as Hollywood on the Hudson, with a $435 million floating-rate loan from Bank of Montreal, Starwood Mortgage Capital, and Bank of America. The new loan retires $376.8 million in prior debt and funds tenant improvements, with the portfolio 98.9% leased and anchored by Lionsgate Studio Corp., which occupies 52.5% of the space. The four-building portfolio includes the iPark Yonkers Campus, the Warburton Campus, the North Broadway Campus, and the Fernbrook Campus, with a weighted average lease term of nearly 10 years. The two-year initial loan term includes three one-year extension options, and the borrower plans to add 15 to 20 new stages and an LED car stage, signaling confidence in continued demand for production space near New York.

Impact on assets 3

Financials▲ · 2 stocks
Communication Services▲ · 1 stocks
Lionsgate Studios Holding Corp.
LION
▲ PositiveDemandrelevance

Lionsgate Studio Corp. anchors the portfolio, occupying 52.5% of the space, and the refinancing funds tenant improvements supporting its production space.

Off-coverage companies 3

Great Point StudiosPrivate± Mixed
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Lindsay GoldbergPrivate± Mixed
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National ResourcesPrivate± Mixed
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